PetStore Direct — Sale in Jupiter, FL

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Industrial Property
  • Location: Jupiter, FL 33478
  • Year built: 2025

Photos

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Investment Figures

Cap rate
5.50%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

Marcus & Millichap is pleased to exclusively offer PetStore Direct, a newly constructed (2025), 16,175 square-foot single-tenant industrial building on a ±1.0-acre parcel at 15783 Walgreens Drive in Jupiter, Florida. The Property is 100% leased on a net basis to Revival Animal Health, LLC, a Delaware-based pet products distributor operating under the PetStore Direct brand. The lease runs 10 years from June 1, 2025 through May 31, 2035, with one 5-year renewal option and fixed 3% annual rent escalations throughout both the primary term and the option period, growing base rent from $291,150 in Year 1 to over $440,000 by 2040 without any reliance on market-rate resets. The lease is structured as a net lease, with Tenant responsible for utilities, trash removal, and maintenance/repair obligations (subject to landlord caps on capital items), giving a buyer a largely passive, low-management income stream. At the offering price of $5,450,000, the Property is priced to yield a 5.50% cap rate on $299,885 of in-place NOI. The building was purpose-built in 2025 with 2 loading bays (1 dock-high, 1 drive-in), 21 parking spaces, approximately 26-foot clear heights, and EV charging infrastructure, situated within an established industrial park alongside a major Amazon distribution facility and other logistics/light-industrial users. This offering provides investors a rare opportunity to acquire a brand-new, net-leased industrial asset in one of South Florida's tightest industrial submarkets. Investment Highlights: • Brand-New, Built-To-Suit With Long-Term Net Lease In Place • Contractual, Fixed-Rate Rent Growth Through 2040 • True Net Lease Structure • Functional, Distribution-Ready Building • Positioned Among Institutional-Caliber Neighbors In Palm Beach Park of Commerce • Located In The Supply-Constrained Palm Beach County Industrial Market

Market Context

This industrial in Jupiter, FL is listed for sale. It is offered at an approximate 5.5% capitalization rate, a key benchmark for income-producing industrial assets. The building dates to 2025. Compare it against other industrial listings for sale in Jupiter, FL — view the full market.

Estimated Price per SF

$113.84/SF – $827.93/SF

Mid: $344.97/SF

About 8 in 10 recent recorded sales fell within a range this wide around the estimate. An automated estimate, not an appraisal.

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